Black Box eyes $2 billion revenue in 4 years on rising AI, data demand

Digital infrastructure firm Black Box is setting its sights on attaining a $2 billion revenue target by financial year 2028 (FY28) as it capitalises on surging demand for data centres, AI-driven infrastructure, and digital connectivity solutions.

During an earnings call, Chief Executive Officer (CEO) Sanjeev Verma said that the roadmap to $2 billion revenue is rooted in adapting to the digital infrastructure needs of top global clients.

Black Box has recently revamped its go-to-market strategy to concentrate on 300 high-spend clients across sectors like financial services, healthcare, and technology, ensuring deep engagement and tailored services for each.

“We realised earlier on that our go-to-market structure wasn’t designed to be able to bring in hyper-growth and therefore we invested in high quality talent, reorganising our go-to-market with vertical focus and horizontal focus,” said Verma.

“We also realised that we cannot be everything to everybody. Therefore we decided to focus on our top 300 customers, which includes many of these large spenders in capex, be it a high-tech semiconductor industry or hyperscaler industry or large financial institutions,” he said.

Amid booming global data demand, Black Box has increased focus on modular data centres and prefabricated solutions, which are designed to accelerate project timelines and cater to hyperscale needs. AI integration has only intensified demand for these high-density, high-computational environments, according to Verma.

Black Box’s growth trajectory also includes leveraging recent funding through the issuance of preferential warrants, which raised Rs 386 crore. These funds, Verma indicated, are geared toward growth capital into the expansion of data centre build capabilities, go-to-market expansion, and innovation delivery.

“We have been an acquisitive company. Blackbox came through an acquisition. So, if something comes around the way that makes sense, we will consider, but our focus remains on organic growth,” said Verma when asked about acquisition plans.